How to claim your child's Trump Account and the $1,000 deposit

Since October 1, 2026, Treasury has automatically opened a Trump Account for every eligible child under 18 with a valid Social Security number, more than 60 million accounts in all. An open account is not a working account, though. Until a parent or guardian claims it, nobody can manage it, family members cannot add money, and an eligible baby will not receive the $1,000 seed deposit. This guide takes you through each step in order, then covers the decisions that matter once the account is live. For how the accounts work in general, see Trump Accounts for children.

Before you start

• Your details and your child's, exactly as Social Security has them. Your name, Social Security number and address, plus your child's legal name, Social Security number and date of birth. A spelling or date that differs from the Social Security card is the most common reason a claim stalls.
• The official Trump Accounts app on your phone (App Store or Google Play). Use only the official app, trumpaccounts.gov or IRS.gov. Claiming and keeping an account costs nothing, so a text or call asking for a fee or your Social Security number to "release" the $1,000 is a scam.
• Agreement on who will claim. Each child has only one Trump Account, and the person who claims it becomes the responsible party while the child is a minor: they choose the investment, move the account to another trustee if they want, and can name a successor. Separated or divorced parents should settle this before either one opens the app.

Step 1: Claim the account in the app

Open the app, verify your identity, confirm your relationship to the child, check the child's information, and accept the account terms. Form 4547 is not needed to claim an account Treasury opened automatically.

If the app cannot find your child, the usual causes are a name or date of birth that does not match Social Security records, or a Social Security number issued after the enrollment run. Correct the record with the Social Security Administration first, then try again, or call the Trump Accounts line at 866-USA-4547.

Step 2: Elect the $1,000 seed deposit

The $1,000 pilot contribution is not automatic, even when Treasury opened the account for you. Your child qualifies if they:

• Were born from January 1, 2025 through December 31, 2028
• Are a U.S. citizen with a valid Social Security number
• Will be your qualifying child for the year you make the election

You make the election on Form 4547, which you can now submit through the app, the Trump Accounts website, or your IRS Individual Online Account, as well as with an e-filed tax return. It can be filed at any time of year, so there is no reason to wait for tax season. Do not attach it to an amended return (Form 1040-X); the IRS will not process it there. Treasury deposits the $1,000 once it confirms the account is open, and the deposit shows in the app.

Having a baby? Request the Social Security number at the hospital when you fill in the birth certificate paperwork. The card usually arrives within a few weeks, and you can claim the account and elect the $1,000 as soon as it does.

Step 3: Check for the Dell deposit

Michael and Susan Dell pledged $6.25 billion to add $250 to the accounts of about 25 million children. It is aimed at children age 10 and under who were born too early for the $1,000 federal deposit and who live in ZIP codes where the median household income is under $150,000. Like the federal deposit, it goes only to claimed accounts, so claim even if your child is not eligible for the $1,000.

Step 4: Set up family contributions

Once the account is claimed, you can share a contribution link with grandparents and other relatives from the app.

• The annual limit is $5,000 per child for 2026 and 2027, indexed for inflation after that. It covers all money from family, friends, the child, and employers combined. The $1,000 seed, the Dell deposit, and other charitable or government deposits do not count toward it.
• Pick one person to keep the running total. When three grandparents each send $2,000, the account is $1,000 over the limit and the excess has to be taken back out. A shared note listing who gave what each year prevents that.
• No deduction going in. Contributions are made with after-tax money. Growth is tax-deferred until the child takes money out.
• Gift tax. Under Rev. Proc. 2026-25, a donor does not need to file a gift tax return for a Trump Account contribution if their total gifts to that child for the year, including the contribution, stay within the $19,000 annual exclusion and they have no other reason to file one. A grandparent who also front-loads a 529 plan, splits gifts with a spouse, or files Form 709 for other gifts should plan the year's gifts with us first.

Step 5: Leave the investment on the default unless you have a reason to change it

Until the child turns 18, the account can hold only low-cost mutual funds or ETFs that track an index of mainly U.S. companies, with no leverage and annual fees of no more than 0.1%. New money goes into the default fund, the State Street SPDR Portfolio S&P 500 ETF (SPYM). Treasury has proposed rules that would let trustees offer more eligible funds. For most families the default already does the job: broad, cheap, and automatic.

Step 6: Keep a record of what you put in

Money from family and friends gives the account basis, which means it comes back out tax-free later. The $1,000 seed, charitable deposits, and employer contributions have no basis, so they and all of the growth are taxed when withdrawn. Save each year-end statement and your list of who contributed what. Ten or fifteen years from now, that record is what keeps your child from paying tax twice on the family's contributions.

What the account can grow to

These figures assume a $1,000 seed at birth, family contributions on each birthday from age 1 through 17, and a 7% average annual return:

• Seed only, nothing added: about $3,400 at 18
• $1,000 a year: about $36,400 at 18
• $2,500 a year: about $85,900 at 18
• $5,000 a year (the maximum): about $168,400 at 18

Left invested at the same return until age 60 with nothing more added, the $1,000-a-year account would reach about $624,000. Starting early, and leaving it alone, makes most of the difference.

What happens at 18

The account's growth period ends on December 31 of the year before the child turns 18. From January 1 of that year, it generally follows traditional IRA rules. Earnings and money without basis are taxable when withdrawn, and withdrawals before age 59½ carry a 10% additional tax unless an exception applies, such as qualified higher education expenses or up to $10,000 toward a first home.

One planning idea is worth keeping in mind: because the account becomes a traditional IRA, the child can convert some or all of it to a Roth IRA. A year when the child has little income, such as during college, is often the cheapest time to do it, because the converted amount is taxed in a low bracket and all future growth becomes tax-free.

Your checklist

1. Gather your and your child's details exactly as they appear on the Social Security cards.
2. Claim the account in the official Trump Accounts app.
3. For a child born 2025 through 2028, submit Form 4547 for the $1,000 deposit.
4. Check whether your child qualifies for the $250 Dell deposit.
5. Share the contribution link with family and name one person to track the $5,000 limit.
6. Keep the default fund unless you have a specific reason to change it.
7. Save each year-end statement and a list of contributions.

Our Individual & Family Tax team checks every client child's election status when we prepare the 2026 return and files Form 4547 for any eligible child who does not have one yet.

Frequently asked questions

Do I have to claim the account if Treasury already opened it?

Yes. An unclaimed account cannot be managed or receive contributions, and an eligible child will not receive the $1,000 deposit until it is claimed.

I filed Form 4547 with my 2025 return. Do I need to do anything else?

Yes. Claim and activate the account in the app. Your election should already show there. If it does not, submit the election again through the app or your IRS Individual Online Account.

My child was born in 2024. Can they get the $1,000?

No. The federal deposit is limited to children born from 2025 through 2028. A child born in 2024 can still have an account, receive family contributions, and may qualify for the $250 Dell deposit.

Can a child who is not a U.S. citizen have a Trump Account?

Yes, if the child has a valid Social Security number. Only the $1,000 federal deposit requires U.S. citizenship.

Can both parents manage the account?

The account has one responsible party at a time, which is the person who claims it. That person can name a successor, and either parent can contribute.